Year-End Wisdom: Expert Quotes of 2024

Radhika Choudary, Co-founder and Director of Freyr Energy

As the solar industry continues to grow rapidly, the focus is shifting toward quality solar solutions and enhanced customer experience. Over the last decade electricity tariffs have risen by nearly 60%, and by 25% in the last year alone, while solar adoption in India has surpassed 3 million households. Yet, a significant gap remains, with over 300 million potential consumers still untapped. Solar has emerged as the most affordable energy source, supported by abundant financing options and government subsidies. This rapid growth is also expected to create more employment opportunities and drive technological innovation. Companies that prioritize quality products and customer-centric initiatives, such as Solar Experience Centers, are poised to lead the industry and deliver long-term value.”

Mr. Mohit Gambir, Indian Managing Director of Oxford International Education Services

This year has been marked by significant policy changes across key international study destinations—Canada, Australia, and the UK—bringing challenges and uncertainties to the sector. Despite these shifts, the resilience and adaptability demonstrated by stakeholders across the industry have ensured continued opportunities for students who aspire to study abroad.

Amid the current geopolitical challenges affecting Canada, there has been a noticeable shift in student preferences, with the United Kingdom emerging as a favored destination. Additionally, the UK government’s efforts to strengthen this position, particularly through initiatives like the International Graduate Route allowing students to stay and work for up to two years after completing their degrees, increase confidence among students.

We foresee 2025 as a year of resurgence for the UK with more students opting to pursue higher education there.

Mr.Subhash Acharya MD& CEO – SEEDS Fincap an NBFC (ND) company

The MSME sector in 2024 demonstrated remarkable resilience and innovation, solidifying its role as a key driver of India’s economic revival. Accelerated digital adoption and financial inclusion transformed business operations, with fintech playing a crucial role in bridging credit gaps. Collaborative efforts by NBFCs, fintechs, and policymakers resulted in a notable 20% sectoral growth, enabling ambitious entrepreneurs to expand their businesses.

Highlights of the year include the rise of green technologies, an increase in women-led enterprises, and improvements in India’s ease-of-doing-business rankings, reflecting the government’s dedication to this sector. However, challenges such as access to affordable credit and navigating compliance complexities persist, necessitating sustained focus.
“As we look toward 2025, our focus remains on empowering ambitious, growth-oriented entrepreneurs by providing tailored financial solutions and fostering innovation,”

“The integration of traditional financing with digital platforms, coupled with trends like AI-driven business models and automation, will enable MSMEs to scale efficiently and compete globally.”

Mr. Acharya further emphasized the importance of financial literacy and streamlined policies in driving inclusive and sustainable growth. Seeds Fincap is committed to supporting the ambitions of MSMEs and helping them realize their potential. With these advancements, MSMEs are set to play an even larger role in shaping India’s economic future in 2025″

Subin Mitra – CEO & Cofounder, Groyyo

• “The recent disruptions in Bangladesh’s textile and apparel sector underscores the vulnerabilities inherent in concentrated global supply chains. Political unrest, catastrophic climate events, and energy crisis can bring entire factories to a halt, causing chunks of garment orders to be delayed or lost. This upheaval has sent international buyers scrambling for stable alternatives and robust, cost effective supply chains, with India emerging as a prime contender; Some greenshoots towards the same are already visible with exporters in Tirupur witnessing a surge in order placements.
• India’s proven strengths in cotton yarn exports and its expanding infrastructure, bolstered by initiatives like the PLI Scheme for textiles, position it uniquely to absorb this redirected demand. However, this is not merely a matter of opportunity but of responsibility. As global brands navigate supply chain uncertainties, India must demonstrate its ability to deliver both scalability and sustainability. The latter has become an area of critical focus for almost all brands globally – emphasizing on the need for sustainability on not just the shop-floor but also in terms of the raw mnaterial utilized in the manufacturing process;
• The next decade will likely witness a recalibration of fashion supply chains, with India taking center stage with its stable geo-political reigns combined with Govt. support for manufacturing. For India, the task is clear – Invest aggressively in manufacturing infrastructure, sustainable practices, and workforce upskilling and cement its reputation as a reliable, innovative, and resilient manufacturing hub, ready to shoulder greater global responsibilities while fostering local growth.”

Pankaj Panjwani, CEO and Founder, KeenSemi

“As we close out a year of rapid innovation and progress, Keensemi is proud to be part of India’s semiconductor revolution. With the Indian semiconductor market poised to grow at a CAGR of 25.7%, reaching an expected value of USD 271.9 billion by 2032, the opportunities for technological advancement are vast.

India’s strong customer base and increasing demand for electronics—from data centers, automtives, smartphones to IoT devices—position us for continued success in this dynamic landscape.

At Keensemi, we remain committed to contributing to this growth by advancing cutting-edge semiconductor solutions that will drive the future of technology.
As the country accelerates its push towards self-reliance in semiconductor manufacturing, we are excited to be at the forefront of this transformation, delivering innovative solutions that meet the needs of a rapidly evolving digital economy.”

Mr. Amit Sharma, Managing Director & CEO, Tata Consulting Engineers

The Indian engineering consultancy sector has experienced a remarkable transformation in 2024, propelled by a steadfast commitment to sustainability, digital progress, and the adoption of advanced technologies, including artificial intelligence, modular construction, and pioneering innovations in energy storage, small modular reactors (SMRs), semiconductors, high-speed rail and infrastructure as a focus area. At Tata Consulting Engineers (TCE), we are determined to harness this momentum, aligning fully with India’s aspiration to emerge as a global leader in sustainable development, technological self-reliance, and resilient infrastructure.

Our approach remains uncompromisingly innovative, delivering bespoke, end-to-end engineering solutions across an ever-widening spectrum of critical domains. Alongside traditional areas such as renewable energy, transport, water resources, space, nuclear, and defence, we are actively catalysing growth in emerging sectors like advanced battery technologies, PSPs, SMRs, and semiconductors. Through close collaboration with domestic partners, we invigorate the ‘Make in India’ initiative, ensure rapid knowledge transfer, and nurture a dynamic ecosystem of self-reliant manufacturing and cutting-edge research.

As we look to 2025 and beyond, our focus centres on expanding our global presence by delivering transformative projects that seamlessly blend sustainability, innovation, and digital sophistication. By leveraging AI, machine learning, and state-of-the-art project management methodologies, we will provide integrated solutions that uplift communities and industries in India whilst setting new benchmarks on the world stage. Guided by our unwavering commitment to economic growth, environmental stewardship, skill development, and technological excellence, TCE stands ready to shape a smarter, more resilient, and truly “Vikshit Bharat.”

Mr. Sunil Agarwal, Founder and Chairman of Joy Personal Care (RSH Global)

“In 2024, the FMCG industry showcased resilience, overcoming inflation and supply chain challenges while meeting strong demand for health-focused, personal care, and affordable products. E-commerce continued to thrive, with rural markets remaining steady. Sustainability also emerged as a key focus, with brands embracing eco-friendly packaging and waste reduction.

As we look back on FY24, Joy Personal Care (RSH Global) has achieved substantial growth, closing the year at ₹575 crore in revenue. This success reflects our commitment to cater to the needs of the mass-market segment with our affordable products. With consistent growth, we aim to achieve ₹750 crore in FY25 and ₹1,000 crore by FY27. By FY28, we envision becoming a ₹1,500-crore brand, driven by strategic expansion and a deep understanding of evolving consumer needs.

We are strengthening our retail presence by expanding the direct distribution network to 5,00,000 outlets within the next three years. Digital marketing now constitutes over 30% of our promotional spends, allowing us to engage effectively with Gen Z audiences on platforms like Instagram, YouTube, and OTT.

We have taken significant steps toward becoming more environmentally conscious by focusing on recycling and reducing plastic usage. Currently, we use around 2,500 tons of plastic annually, and we are committed to recycling more plastic than we consume within the next five to seven years. As part of this effort, we have introduced Platina recyclable tubes for key products such as the Joy Ultra Matte Dry Touch Sunscreen, Joy Ubtan Face Wash, Joy Charcoal Face Wash, and Joy Lemon Face Wash, in collaboration with our packaging partner, EPL.

With a unique blend of innovation, affordability, sustainability, and a forward-thinking approach to technology, we will continues to resonate with consumers across India. Our vision is not only to grow as a brand but also to contribute meaningfully to a sustainable future. By prioritizing eco-friendly practices and making our products widely available, we aim to deliver value to our customers while staying true to our commitment to the environment and society”.